Meet Yewande - How I saved 1million naira using PiggyBank.ng

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“Yep, my title is correct. I just completed my task of saving over 1 million Naira using Piggybank.ng and I am very proud of myself.

As I said in a previous post, I have always been a careful spender, but that didn’t stop the breeze from carrying my money away.

I would calculate how much I was earning, how much I thought I was spending and how much I was actually saving and I wouldn’t be able to account for the difference. I used to delete my bank statements because I didn’t want to face the truth…..Not Anymore!!

In my last Post, I wrote about how I was able to save and even earn more last year and Piggybank.ng was very instrumental to that. I only discovered that after I had collated all my buckets of funds. Well, it looks like they have been responsible for saving me over 1 million Naira.

So what is Piggybank.ng?

They are a website/service that helps you save your money with ease. Full stop!

Here’s the thing about saving money, don’t save for the sake of saving, save towards something or towards investing into something else.

I am saving for 3 reasons:
1.    Down payment on a new car, so that I can have enough money to add to the money I’ll get when I sell my old car.
2.    Mutual funds: to serve as a passive form of income. Which after a while I’ll take the money to do number 3.
3.    Buy land in Ajah or participate in the Lagos Government housing scheme.
Technically, I need more than 1 million Naira for all these but at least I am taking visible baby steps. The dream is getting closer to reality and I can see all my savings in one place.

Here’s how I did mine:
I started saving with Piggybank.ng sometime last year and I picked the option of saving 25k every week to run for 10 months. You can pick any other option you want. However, you can only save between N50 – N5000 daily or N1,000 to N25,000 weekly orN5,000 to N100,000 monthly automatically.I also connected my withdrawal accounts and my deposit accounts (using my MasterCard details). It’s very flexible and you can change your plan at any time.

You can also use the ‘QuickSave’feature when you have extra cash you want to quickly deposit before your brain starts telling you to do otherwise AND the ‘SafeLock’ feature which adds interest upfront when you lock all or part of your savings for a convenient duration. This is perfect if you don’t want ANY temptation to withdraw till you meet your target.

See their website for more information: Piggybank.ng”

Have you tried them before? What was your experience?